Feature/OPED
Forensic Audit: A Test of Buhari’s Integrity
By Obiaruko Christie Ndukwe
The battle lines were drawn, the drums of war drowning the initial applause that greeted the order for the financial probe of the corruption-riddled interventionist agency, the Niger Delta Development Commission (NDDC), whose headquarters is in Port Harcourt, Rivers State.
The first Salvo was fired by the Vice President sometime in May 2019, while on a visit to Delta State. Professor Yemi Osinbajo had publicly declared the commission a non-performer having failed to fulfil its first mandate of developing the oil-rich Niger Delta, in 9 out of 36 states. This shot by President Muhammadu Buhari’s deputy had sent the signal that all was not well with the 19-year-old agency.
This created a loophole for the Governors of the 9 states to wake up from their slumber, and together they paid a visit to the President and demanded the probe of the NDDC.
The move by the Governors who were mostly of the opposition Peoples Democratic Party (PDP) was seen as a political witch hunt against the ruling All Progressives Congress (APC), which was now in control of the commission.
Many believed that the Governors were on a mission to provoke the President against some of his party men from the region who were believed to have their fingers in the pie.
But in a twist of fate, the President, realizing the insidious agenda of the Governors, rather than settle for a probe of the commission from the period APC took over the reins of government, decided to extend the period of the probe from the date of inception to 2019.
The Governors were somehow trapped in their own nets, considering that the APC under Buhari had controlled the NDDC for five years out of the 19-year period. Some of them were actually involved in the sleaze that had characterized the agency and in turn, underdeveloped the region.
The responsibility of supervising the commission rightfully fell on the Minister of Niger Delta Affairs and the supervising Minister of the NDDC, Mr Godswill Akpabio, who was surprisingly appointed a Minister, having lost his earlier bid to return to the Senate, after a thunderous defection to the APC from the PDP.
He was a former Governor of Akwa Ibom State. Akpabio became the burden-bearer as those who were against the forensic audit of the commission let out all arsenals against him, all in a bid to frustrate the probe.
It is no longer news that the battleground became the National Assembly as the two Committees on NDDC in both chambers pulled every string to stop the audit, or at least, to ensure that Akpabio, who was one of them in the 6th Assembly, did not supervise the exercise. It was a widely celebrated battle that pitched the management of the commission against the parliament. It was an epic battle even while the COVID-19 pandemic threatened.
There were efforts to weaken the probe even as the National Assembly fought back. One such way was the stoppage of funds accrued to the organisation, thereby, crippling every activity in the region through the NDDC.
The International Oil Companies (IOCs), which were largely responsible for the funding of the commission, were forced by the Economic Financial Crimes Commission (EFCC) to stop payments to the NDDC account domiciled at the Central Bank of Nigeria (CBN).
An account tagged NDDC/EFCC was later opened with the CBN, and the IOCs were compelled to pay monies in there, and the EFCC ensured that neither the management of the commission nor the Minister could access the funds.
While the whole drama was on, President Buhari did not bulge as he found a way to navigate out of the roadblocks posed by the National Assembly. He chose to make available the funds for the forensic auditors and quickly had them inaugurated for the assignment.
The urge by Akpabio to resign his appointment, at some point, was deep, yet he was resilient to see to the end of the presidential order, to ascertain the reason why the region had remained underdeveloped in spite of all the monies released for projects.
After a painstaking period of two years, without any contracts awarded or new projects executed, the forensic audit has been concluded. The President has received the report albeit through the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami.
Over 13,000 jobs were said to have been awarded, mobilization paid at 90% and yet, uncompleted or abandoned. A more scary revelation by Akpabio during the presentation of the report was that a whooping N3.2 trillion was paid out during the period in a cheque from 2001 to 2019 and an additional N2.5 trillion from statutory and non-statutory income, bringing the total sum to N6 trillion from the inception of the commission till August 2019.
It is no longer surprising why the fight was intense to scuttle the probe as initial fingers pointed at members of the National Assembly, past and present; political leaders and people of the region in active connivance with people outside the region; the security agencies and in some cases, from the presidency.
Even though the President has shown enough commitment to further investigate and prosecute those to be indicted, there are still doubts in the minds of most Nigerians on the reality of his assurances.
This stems from the belief that 75% of those involved in the merciless rape of the region’s resources are in his party and some, in his government.
Again, there are those who think that the President only hires but fails to fire. Not minding the recent sack of two Ministers.
While Buhari must be commended to toe the path where those before him failed, the President must complete the task by revealing the identities of those behind the monumental corruption in the NDDC, no matter how veiled their identities are, considering that very many of the high profile persons may have used pseudo companies, and in some cases, withdrawn their membership of those companies from the Corporate Affairs Commission (CAC).
The man in the eye of the storm, Senator Akpabio will not be spared more arrows, for either doing a good job or a bad one; depending on which line of the divide he is viewed. Even though it is not his probe, but Buhari’s!
The time for the President’s highly touted integrity to be put on a scale is now. His ability to resist the temptation of dumping the much-advertised audit will further prove his sincerity to spare no one, irrespective of whose ox is gored, and bring to book those who have voraciously cleaned out the resources of the poor people of the region that has continued to survive the nation’s economy, through oil and gas.
If the report is left in the hands of those who would use it as a tool for political witch hunt; or for “settlement”, then, there was no need in the first place for downing the tools and grinding the commission to a halt for a period of 2 years.
Whatever happens, we, the people of the region demand to know who did what and what is to become of the monies trapped in that phoney safe tagged NDDC/EFCC account?
Obiaruko Christie Ndukwe is a commentator, analyst and columnist based in Port Harcourt, Rivers State
Nigeria’s financial services industry stands at a decisive crossroads as technology leaders prepare for the January 1, 2027, data residency deadline set by the Central Bank of Nigeria. The regulatory mandate requiring all payment transaction records, customer personally identifiable information (PII), and account ledgers to reside within domestic data centres is forcing a structural re-evaluation of banking IT architectures. For executive teams across the country, navigating this transition without interrupting daily banking operations is becoming the ultimate test of leadership.
For years, the industry’s reliance on foreign hyperscale providers delivered quick elasticity and global tools. However, transferring entire production stacks – encompassing real-time transaction processing, API gateways, and fraud scoring engines – back to local infrastructure requires significant engineering effort. With the country handling billions of electronic transactions annually, CIOs are seeking to preserve system uptime while severing deep operational dependencies on foreign data centres.
Experts have opined that the core challenge confronting financial technology teams is the lack of empirical, vendor-neutral benchmarks for domestic cloud platforms. Evaluating whether local data centres can sustain mission-critical financial traffic requires rigorous stress testing rather than relying on theoretical SLAs. The risk of potential downtime during a live migration makes vendor vetting the most crucial phase of the compliance roadmap.
To mitigate these operational risks, infrastructure partners like MTN are mobilising domestic capacity and technical insights tailored for the financial sector. By offering sovereign cloud solutions and collaborative engineering frameworks, MTN is helping CIOs and startups navigate the migration path with minimal disruption. Their localised infrastructure serves as an operational bridge, providing the uptime and data sovereignty assurances that both institutions and regulators require.
Lynda Saint-Nwafor, the Chief Enterprise Business Officer for MTN Nigeria, put it succinctly when she explained the upside of hosting data locally: “Hosting locally means lower latency, faster response times, and compliance with Nigeria’s data regulations. More importantly, it gives Nigerian businesses control, keeping sensitive financial, health, and government data within national borders.”
As the January 2027 benchmark approaches, the metric for success will depend on technical execution and operational discipline across companies.
By Osasikemwen Ighile
For many Nigerian families, the summer holiday is a season of fun, relaxation, and spending quality time together. But with the kids at home, more outings, higher electricity consumption, and extra entertainment costs, it’s also a period when expenses can quietly pile up.
The good news? You don’t have to choose between making memories and managing your finances. With a few smart habits, you can enjoy the holidays while keeping your savings goals on track.
Here are five practical ways to save smarter this summer.
1. Ditch Cash and Spend Smarter
Ever noticed how cash disappears faster than you expected? Whether it’s buying snacks for the kids, paying for transport, or making quick market runs, spending cash can make it difficult to track where your money goes.
Using a debit card can make it easier to track transactions and monitor spending. FairMoney customers can use their debit card for eligible transactions, subject to applicable terms and conditions. You can make payments conveniently at stores, shop online, and easily monitor your transactions. Instead of carrying cash everywhere, you get a clearer picture of your expenses and can avoid unnecessary impulse purchases.
Small changes like this can make a big difference over the course of the holiday.
2. The Kids Are Home—Stay Ahead of Your Utility Bills
School holidays often mean one thing: the TV is almost always on. From cartoons in the morning to football matches in the evening, your cable subscription becomes more important than ever. Add fans, air conditioners, gaming consoles, and other appliances, and it’s easy to see why electricity bills tend to increase during this period.
Rather than waiting until services are disconnected, planning and paying bills on time help households avoid unnecessary late-payment or reconnection charges. FairMoney customers can pay eligible bills and services through the platform, subject to applicable terms and service availability. You can conveniently pay for Cable TV subscriptions, Electricity bills, Internet subscriptions, Airtime and data for the entire family.
Paying bills on time can help reduce the risk of late payment consequences or applicable reconnection charges. Summer is filled with birthdays, outings, family visits, and spontaneous spending. While these moments are worth enjoying, your savings shouldn’t take a holiday.
3. Enjoy the Holidays—but Don’t Pause Your Savings
A simple strategy is to save first before spending. FairMoney customers can also use eligible savings products, such as FairSave and FairTarget, to set aside money towards specific financial goals, subject to the applicable product terms, conditions and eligibility requirements, even if it’s in small amounts. Already planning for the next school term? FairMoney customers can also use eligible savings products, such as FairSave and FairTarget, to set aside money towards specific financial goals, subject to the applicable product terms, conditions and eligibility requirements. Already planning for the next school term? Consider setting aside money regularly towards your school-fee goal. FairTarget can be used to help you organise savings around specific financial goals, subject to the applicable product terms, conditions and eligibility requirements. By starting early and saving consistently, you can better prepare for school-related expenses when the new term begins.
4. Plan Weekly Family Activities Instead of Daily Spending
The holidays don’t have to be expensive to be memorable. Instead of spending money every day on outings, cinemas, or restaurants, create a simple weekly activity plan. One weekend could be a family movie night at home. Another could be a picnic in a nearby park, a cooking competition, indoor games, or a visit to relatives.
Planning activities ahead helps you control spending while still giving everyone something to look forward to. Sometimes, the best memories cost very little.
5. Buy Household Essentials in Bulk
With everyone at home, groceries seem to disappear twice as fast. Instead of making frequent trips to the store, which often lead to impulse purchases, consider buying regularly used items in bulk.
Depending on the retailer and quantity purchased, some household essentials may offer better value when purchased in bulk.. You’ll spend less on transportation, reduce unplanned shopping, and avoid running out of important items.
Summer should be about creating happy memories not financial headaches. By spending more intentionally, paying your bills on time, planning ahead, and staying committed to your savings goals, you can enjoy everything the season has to offer without putting unnecessary pressure on your finances.
A few smart habits today can make the months ahead much easier. And that’s a win for every household.
Osasikemwen Ighile is the Brand Manager for FairMoney Microfinance Bank
Feature/OPED
Beyond the Screen: How Sports and Entertainment Keep Nigeria’s Economy Moving
When we talk about Nigeria’s economy, the conversation usually centres on oil and gas, banking, agriculture, manufacturing and technology. But there is another industry quietly creating jobs and driving economic activity: entertainment and sports. Most times, we only see the finished product. We watch the show, cheer during the match and move on to the […]
When we talk about Nigeria’s economy, the conversation usually centres on oil and gas, banking, agriculture, manufacturing and technology. But there is another industry quietly creating jobs and driving economic activity: entertainment and sports. Most times, we only see the finished product. We watch the show, cheer during the match and move on to the next thing. What we do not always see is the amount of work that happens before those moments reach our screens.
Take Big Brother Naija
When viewers tune in and see the housemates moving around the Big Brother house, it is easy to forget that the house itself is a product of many people’s work. From the interior designers and set builders who create the spaces to the electricians, carpenters, painters and technicians who bring them to life, an entire team works behind the scenes before the first episode even begins.
Once the cameras start rolling, the list gets even longer. Producers, directors, camera operators, sound engineers, editors, stylists, makeup artists, caterers, production assistants and security personnel all have a role to play. Then there is everything that happens outside the house. Publicists, photographers, videographers, digital teams, content creators and media platforms all contribute to keeping the conversation going. The housemates may be the faces audiences remember, but they are only one part of a much bigger entertainment ecosystem.
Sports have a similar impact
When the Super Falcons play a major game, the focus is naturally on the players and what happens on the pitch. But outside the stadium, the game can mean business for viewing centres, food vendors, restaurants and bars. Sports analysts and commentators have more to cover, content creators have something new to create around and businesses selling jerseys and football merchandise get an opportunity to make sales.
A major sporting event can turn an ordinary evening into a busy one for businesses that have little to do with what happens on the pitch. That is the part of sports and entertainment that is easy to overlook. The value is not only in the stars we see or the content we consume. It is also in the network of people whose skills and businesses keep these industries moving.
And this is where DStv and GOtv become an important part of the picture. They do more than give audiences access to the shows, matches and moments they care about. They connect the people producing this content with millions of viewers who keep the industry going.
Every time someone tunes in to Big Brother Naija, follows the Super Falcons or settles in for a major sporting event, they are engaging with an industry that supports producers, creatives, technicians, businesses and other professionals.
The impact of sports and entertainment, therefore, goes beyond what happens on the screen. By bringing some of the biggest entertainment and sporting moments to Nigerian audiences, DStv and GOtv help keep this ecosystem active, visible and working. Because sometimes, when we sit down to watch, we are not just consuming entertainment. We are also supporting an industry that provides jobs.
